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CADJPY has bounced perfectly, further potential upside expected

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Kanadensisk dollar/Japanska yen (FX:CADJPY)  
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FX:CADJPY   Kanadensisk dollar/Japanska yen
Trend Analysis Harmonic Patterns Chart Patterns CADJPY CAD jpy cadjpyshort cadjpylong cadjpyanalysis cadjpytrade cadjpybuy cadjpysell
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trendanalysis harmonicpatterns chartpattern cadjpy cad jpy cadjpyshort cadjpylong cadjpyanalysis cadjpytrade cadjpybuy cadjpysell
Price has bounced up perfectly from our major support at 88.57 previously. Major support is now at 89.37 (Fibonacci retracement, horizontal pullback overlap support) and a potential bounce could occur from here pushing price further up to 90.37 resistance (Fibonacci retracement, Fibonacci extension).

Stochastic (89,5,3) is seeing major support above 1.9% where a potential corresponding bounce could occur.

Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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